Current token based payments are limited to an instantaneous one-time payment. Such payments are limited and provide no real incentive for customers to replace traditional forms of payment. Because current tokens lack flexibility and customization, customers are less inclined to embrace a form of payment different from traditional credit and debit cards. Moreover, current mobile pay systems require the storage of digital credit card numbers which may lead to security issues and a higher threat for potential fraud.
These and other drawbacks currently exist.